Caitong International Asset Management Co. Ltd Takes Position in Rezolute, Inc. $RZLT

Caitong International Asset Management Co. Ltd bought a new position in shares of Rezolute, Inc. (NASDAQ:RZLT) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 209,179 shares of the company’s stock, valued at approximately $494,000.

Several other institutional investors also recently bought and sold shares of the company. Goldman Sachs Group Inc. purchased a new position in shares of Rezolute during the first quarter worth about $685,000. JPMorgan Chase & Co. bought a new stake in shares of Rezolute in the 2nd quarter valued at approximately $141,000. Legal & General Group Plc acquired a new position in shares of Rezolute in the 2nd quarter worth approximately $32,000. Rhumbline Advisers bought a new stake in shares of Rezolute during the second quarter worth $432,000. Finally, New York State Common Retirement Fund acquired a new stake in shares of Rezolute in the second quarter valued at $104,000. 82.97% of the stock is owned by institutional investors and hedge funds.

Rezolute Price Performance

NASDAQ:RZLT opened at $5.02 on Friday. Rezolute, Inc. has a 1-year low of $1.07 and a 1-year high of $11.46. The firm’s 50-day moving average price is $3.60 and its 200-day moving average price is $3.51. The company has a market capitalization of $483.38 million, a PE ratio of -6.12 and a beta of 0.68.

Rezolute (NASDAQ:RZLT) last announced its quarterly earnings results on Tuesday, May 12th. The company reported ($0.16) earnings per share for the quarter, beating the consensus estimate of ($0.17) by $0.01. Equities analysts anticipate that Rezolute, Inc. will post -0.69 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on RZLT shares. Citizens Jmp upgraded shares of Rezolute from a “market perform” rating to an “outperform” rating and set a $11.00 price objective for the company in a research report on Wednesday, June 3rd. Maxim Group boosted their price target on shares of Rezolute from $10.00 to $14.00 and gave the stock a “buy” rating in a research note on Tuesday, June 2nd. Wedbush increased their price objective on shares of Rezolute from $5.00 to $6.00 and gave the company an “outperform” rating in a report on Wednesday, June 3rd. HC Wainwright restated a “buy” rating and issued a $5.00 price objective on shares of Rezolute in a report on Tuesday, June 2nd. Finally, Cantor Fitzgerald reaffirmed a “neutral” rating on shares of Rezolute in a research note on Wednesday, June 3rd. Eight research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, Rezolute presently has a consensus rating of “Moderate Buy” and a consensus target price of $9.38.

About Rezolute

Rezolute, Inc, a clinical stage biopharmaceutical company, develops therapies for metabolic diseases associated with chronic glucose imbalance in the United States. The company's lead product candidate is RZ358, a human monoclonal antibody that is in Phase 2b clinical trial for the treatment of congenital hyperinsulinism, an ultra-rare pediatric genetic disorder. It is also developing RZ402, an oral plasma kallikrein inhibitor, which is in clinical trial for the chronic treatment of diabetic macular edema.